|
Sunday, February 23, 2003
P10B up for SMEs this year
TRADE and Industry Secretary Mar Roxas recently announced that the Department of Trade and the participating government financial institutions are now accrediting interested thrift and rural banks interested in serving as conduits to the P 10 billion that will be made available for financing the country's small and medium scale enterprises.
"Our thrust to support our SMEs will not mean anything if we are not successful in moving these funds," Roxas said as he presented before thrift and rural bankers the common accreditation criteria that will be used by the GFIs in their accreditation process.
After meeting the rural and thrift bankers, Roxas also met with representatives of cooperatives and non-government organizations that are actively involved in micro-financing.
"We have invited them to work with us in drafting the guidelines so they can also be tapped as conduits to entrepreneurs who are not normally serviced by banks," Roxas said.
"Many of these organizations are active and have established good track records in lending to entrepreneurs who normally rely on 5-6 lenders for working capital," Roxas said.
The Department of Trade and Industry and government financial institutions recently signed a memorandum of agreement to harmonize guidelines for accreditation of rural and thrift banks lending to SMEs which was launched last February 04.
"Aside from rural and thrift banks, cooperatives and non-government organizations, we will also be tapping industry associations and local government units (LGUs) as conduits of these funds," Roxas said.
"We are laying down the guidelines so the process will be transparent and the accountabilities clearly defined," he added.
Marriz Manuel B. Agbon, Private Sector Representative of Mindanao to the National SME Development Council noted that the National SME Development Plan presented by Roxas is the "first comprehensive, integrated roadmap for the development of Philippine SMEs."
Roxas recently launched a series of SME for a in the regions to drum up support to the government's National SME Development Plan.
He met with bankers, civic leaders, entrepreneurs in Iloilo, Davao and Cagayan de Oro.
Agbon presented it to LGU heads and representatives and the local business community in Tubod and Ozamiz City. In Northern Mindanao, subsequent briefings are scheduled in Iligan City, Camiguin and Bukidnon.
Roxas will arrive here today for several speaking engagements.
(February 21, 2003 issue)
Want Sun.Star news on your mobile phone? Click here. |
|
[ return
to top ]
[ home
]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
|
